Diversified Trust Co Sells 20,693 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Diversified Trust Co decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 81.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,744 shares of the utilities provider’s stock after selling 20,693 shares during the quarter. Diversified Trust Co’s holdings in Public Service Enterprise Group were worth $401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $422,000. DRW Securities LLC bought a new position in Public Service Enterprise Group in the third quarter worth approximately $8,244,000. Arvest Bank Trust Division purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $2,860,000. Cerity Partners LLC boosted its stake in shares of Public Service Enterprise Group by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after acquiring an additional 25,503 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $2,965,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on PEG. Evercore ISI lifted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays lowered their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Trading Down 1.2 %

Shares of Public Service Enterprise Group stock opened at $84.28 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $87.44 and a 200-day moving average price of $83.98. The firm has a market cap of $41.99 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.85%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.